4 Stocks Looking Higher

Harry Boxer  |

Image: 3D Systems Corporation

Here are three healthcare stocks and one technology stock that are at or near key breakout points.

Clovis Oncology, Inc. popped 90 cents, or more than 10%, to $9.73 on 11.7 million shares Wednesday on no news. The move edged the stock out of a declining wedge pattern it's been in since its December top. A break through moving average resistance near $10.45 and then the recent double-top at $11.15-.25 could lead the stock to $13 next.

3D Systems Corporation climbed 63 cents, or 5.3%, to $12.34 on 2.9 million shares Wednesday. On Monday, the company announced an expanded relationship with Sanmina to manufacture certain plastic 3D printing platforms. Wednesday's move broke the stock out of a month-long wedge formation, and next resistance for the stock, which has nearly doubled in 5 months, is at $14.25.

Fulgent Genetics, Inc. jumped $1.52, or 10.9%, to $15.42 on 458,900 shares Wednesday. The move, which came on no news from the genetic testing services company, broke the stock out of a 3-month coil. If it can get through lateral resistance right near here in the $15.50 zone, the near-term target is the $16.50 high from November, with the mid-channel target at $18.50.

Mallinckrodt plc gained 31 cents, or 6.4%, to $5.14 on 6.1 million shares Wednesday on no news from the specialty pharmaceutical company. The stock, which broke out a base in January and had an orderly pullback from resistance on lower volume, has been picking up in the last two sessions, and looking poised to re-test the highs. Initial target is $7.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis and live chart presentations.


Equities Contributor: Harry Boxer

Source: Equities News

Stock price data is provided by IEX Cloud on a 15-minute delayed basis. Chart price data is provided by TradingView on a 15-minute delayed basis.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not necessarily represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

Trending Articles

Which Industries Benefit the Most After a Hurricane?
The Currency Crescendo: What Happens When the Music Stops
As Streaming TV Users Push Back, Providers Ponder Their Next Move: Jeff Kagan
Bond Yields Have Risen Well Above Stock Dividend Yields. Are They a Buy?

Market Movers

Sponsored Financial Content